Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    615 Turner St Mooresville, NC 28115

    Sponsored
    Picture of Apartment buildings at Turner St 615, Mooresville, NC
    For Sale
    $6,050,000

    MULTI_FAMILY - Mooresville, NC

    Lot size:
    8.24 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 27 at 11:06 pm

    Property Features for 615 Turner St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Rooms
    Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 3, Bathroom 1, Laundry Room
    Bedrooms
    3
    APN
    4667267916
    Parking features
    Garage - Attached
    Pets allowed
    Yes
    Appliances
    Bar Fridge, Dishwasher, Disposal, Electric Cooktop, Electric Oven, Microwave
    Lot size
    8.24 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    2027
    Number of units
    22
    Building materials
    Vinyl

    We can help!

    Listing Contact
    Tiara Lansky

    Ivester Jackson Distinctive Properties (704) 996-5686

    Listing agent Tiara Lansky (251) 402-5574

    Listing date Feb 27, 2026

    MLS# 4351583 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    New Townhome Portfolio in Mooresville

    The Mayhew Subdivision presents an opportunity to acquire a portfolio of 22 newly constructed townhomes situated on approximately 8.24 acres in Mooresville, North Carolina. The location provides convenient access to Lake Norman and a commute to Uptown Charlotte. The properties are designed as a unified community, offering immediate scale in a single transaction. The townhomes feature modern construction and contemporary floor plans. Dedicated parking and integrated open space are included. Full municipal utilities are available. The site plan is approved under the local Unified Development Ordinance. The portfolio is positioned alongside nearby townhome communities and a development pipeline, with regional builders delivering comparable product. The location benefits from proximity to Lake Norman, area schools, nearby parks, and country clubs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.807494
    Latitude
    35.596696

    Nearby Similar for Sale

    • $475,000
      Pending

      Versatile Office/Flex Space Available

      Well-maintained office/flex space with reception, offices, bathroom, and kitchenette.
      119 Magnolia Park Dr, Mooresville, NC 28117
      View Details
    • $450,000
      Pending

      Brawley School Road Commercial Condo

      Versatile 1,120 sq ft office/retail condo in high-traffic Mooresville location.
      110 Charleston Dr, Mooresville, NC 28117
      View Details
    • $1,900,000
      1.69 Acres

      Commercial Building Near Downtown Mooresville

      13,944 SF commercial building on 1.6 acres near I-77.
      770-772 N Broad St, Mooresville, NC 28115
      View Details
    • New
      $700,000
      7.50 Acres

      7.5 Acre Estate in Mooresville

      7.5-acre estate near Davidson, perfect for equestrian or hobby farm.
      175 Stonehaven Dr, Mooresville, NC 28115
      View Details
    • $556,320

      Modern Office Condo For Sale

      Modern office condo featuring private offices, conference room, and open space.
      107 Kilson Dr, Mooresville, NC 28117
      View Details
    • $525,000

      Commercial Office Condo Investment

      Tenant-occupied office condo with stable income and growth potential.
      107 Kilson Dr, Mooresville, NC 28117
      View Details
    • $105,000
      1.42 Acres

      Land Near Miller Air Park

      Cleared 1.42-acre lot near Miller Air Park landing strip.
      125 Cloud Top Ln, Mooresville, NC 28115
      View Details
    • New
      $519,900
      0.44 Acres

      New Construction Duplex Investment Opportunity

      New construction duplex in Mooresville, designed for cash flow.
      West Park Ave, Mooresville, NC 28115
      View Details
    • New
      $514,900
      0.56 Acres

      New Construction Duplex Investment Opportunity

      Modern duplex in Mooresville, designed for cash flow and growth.
      West Park Ave, Mooresville, NC 28115
      View Details
    • New
      $514,900
      0.53 Acres

      New Construction Duplex Investment Opportunity

      Modern duplex in Mooresville, NC, ideal for investors.
      West Park Ave, Mooresville, NC 28115
      View Details
    • $1,600,000
      16.00 Acres

      Private Wooded Acres with Barn

      16 acres with barn and stream near Mooresville schools.
      173 Rocky River Rd, Mooresville, NC 28115
      View Details
    • $6,950,000
      2,597 SF

      22-Acre Estate with Income Potential

      Estate with log home, event barn, and collision center.
      1620 London Rd, Mooresville, NC 28115
      View Details

    FAQs

    What type of property is this?
    Apartment building - 22 newly constructed townhomes on 8.24 acres near Lake Norman.
    Where is this apartment building located?
    The property is located at 615 Turner St Mooresville, NC.
    What is the asking price?
    The asking price for this property is $6,050,000.
    What are key features of this property?
    This property features: - Portfolio of 22 newly constructed townhomes in high-growth Mooresville.; - Approved site plan under local Unified Development Ordinance.; - Minutes from Lake Norman and easy commute to Uptown Charlotte.
    (251) 402-5574
    Request Owner's contact information
    615 Turner St Mooresville, NC 28115
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 Turner St
    Mooresville, NC 28115
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    615 Turner St Mooresville, NC 28115
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tiara Lansky
    (251) 402-5574
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!